Post on 25-Aug-2020
MAHARASHTRA METRO RAIL CORPORATION
NAGPUR METRO RAIL PROJECT
NON FARE BOX REVENUE INITIATIVES BY MAHA-METRO
S. SIVAMATHANDIRECTOR (FINANCE)
NAGPUR METRO RAIL PROJECT HIGHLIGHTS
Project Cost : Rs. 8680 Crores
Project FIRR : 10.35% with Non fare box revenue
Non Fare Box Revenue
Collection of Additional Taxes in the form of 1% Additional Surcharge on Stamp Duty.
Transit Oriented Development along the NMRC Corridor (TOD)
Property Development along the NMRC Corridor.
Advertisement (including Wrapping & Station Naming)
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Nagpur Metro Rail Project is the ‘1st’ project in India to get the TOD approval at the DPR Stage.
1%ADDITIONAL CESS ON STAMP DUTY
Government of Maharashtra vide notification in Govt. Gazette dated 21.08.2015 amended the Maharashtra
Municipal Corporation Act 2015, to levy 1% additional surcharge on stamp duty in accordance with section
149(B) of the Act.
Recovery of 1% Additional Surcharge on Stamp Duty was started from October 2016. This Additional
Surcharge is presently being collected by GoM.
Till 31st Oct, 2017 Rs. 60.05 Cr has been collected.
Presently being collected by GoM, which shall be transfer to Maha-Metro’s account from the date of ROD.
TRANSIT ORIENTED DEVELOPMENT - TOD
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Plot Size Road Width FSI Permitted> 2000 Sq. Mt. >15 Mt 4
>1000 < 2000 sq Mt. >15 Mt. 3<1000 Sq Mt. 9 to 12 Mt. 2
ADDITIONAL FSI PERMITTED
GoM vide notification dated 09th June, 2017 published the final TOD notification.
GoM vide notification have fixed following premium for availing additional FSI
30% of ASR value for minimum Tenement density of 200 Tenements per Hectare
40% of ASR Value for Tenement density is less than 200 Tenements per Hectare.
TOD Policy Brief and Information
As per the GoM Notification, Premium so collected will be distributed between Maha-Metro andPlanning Authorities (NIT/NMC/MADC) in following manner -
50% of the Premium so collected shall be reserved for Maha Metro as a part of Non Fare box revenue. This
Premium accrued will help Maha-Metro in repayment of Loans availed from various funding agencies.
50% of the Premium so collected shall be reserved for Planning Authorities for up-gradation of existing
infrastructure within the TOD Corridor.
Additional FSI - Premium Distribution
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Property Development - PD
The Govt. of Maharashtra ‘Principally’ approved the Maha Metro to act as ‘Special Planning Authority’ for their own projects falling in
Nagpur Metro Rail Corridor.
The various initiatives of Maha Metro are as under-
Property Development Spaces (PD)
These are site level areas proposed to be allotted to a real estate developer / end-user on PPP model. Lease tenure assumed for financial analysis
is 50 years. The entire project development shall be made by the Developer at his own cost.
Property Business Spaces (PBs)
The Property Business Spaces (PB) are areas within the station box at various levels (ground, concourse, mezzanine levels) and would be available
for utilization as retail / commercial / etc. The development cost for such spaces shall be borne by Maha Metro. The PB are proposed to be
allotted to the end-user tenants/occupiers for a 15-year Lease period.
Advertisement Spaces (ASs)
The Advertisement Spaces shall be within Metro Station, Outside metro Stations, along the Metro Corridor and on Rolling Stocks. The ASs are
proposed to be allotted to the Advertising Agencies on a fixed tenure.
PD – Till Date
Property Development Spaces (PD) Property Business Spaces (PBs) Advertisement Spaces (ASs)
- Capex to be made by Developer
- Long term Lease up to 50 Years
- Lease Revenue to be received by Maha
Metro on upfront and/or Annual basis.
- Escalation on Lease Rental on annual
basis.
- TOD benefit considered for
Developer.
- Parking Revenue shall form part of
PDs
- Short term Lease of 15 Years.
- Capex for civil structure to be made by
Maha Metro.
- Only finishing and interior works will be
made by Facility Management Service/
End User.
- Lease Rent to be received by Maha Metro
on annual basis.
- Escalation on Lease Rental on annual
basis.
- Parking Revenue shall form part of PBs
- To be allotted on Short term Lease.
- Facility Management Service
provider can be appointed for
coordination and maintenance.
- Lease Rent to be received by Maha
Metro on annual basis.
- Escalation on Lease Rental on annual
basis.
Key Features
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Proposed Project Structuring Landscape
Project Development Summary
Transparent Bidding Process
Special Purpose Company
Upfront Lease Premium /
Annual Lease Rent /
Area Share
Debt from Lending Institutions
Equity Invested by Promoter PPP structured on
DBFOT basis
Lease & Development
Rights
Real Estate Development
Maharashtra Metro Rail Corporation Ltd. (Maha
Metro)
Transfer on end of Concession Period
Maharashtra Metro Rail Corporation Ltd. (Maha-Metro)
Selected Bidder
Promoter
Sr. No. Project Name Plot Area(In Sq. Mt.) Available FSI Proposed Sector
1 Eco Park Khapri 37,879 4 Entertainment Zone(Park, Club House)
2 Sita Burdi, TTMC 19,890 4Mixed Use
(Residential cum Commercial)
3 Zero Mile Station (Airspace) 13,222 4 Commercial
4 Heritage Walk
5 Residential Housing, Khapri 1,17,358 4Mixed Use
(Residential cum Commercial)
6 Residential Housing, Hingna 2,39,006 4Mixed Use
(Residential cum Commercial)
7 Gaddi Godam Station 4,109 4 Commercial
TOTAL 3,93,585
Mixed Development : Residential 60% Commercial 40%
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ZERO MILE STATION
Property Development at Khapri Metro Station Property Development at Airport Metro Station
Maha Metro is planning to initiate tenders to develop retail space of 5 lakhs Sq. Ft.
Sitaburdi Interchange
Upcoming Major Projects – Financial year 2018-19
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Upcoming Major Projects – Financial year 2019-20
Metro City, MIHAN
Hingna Housing COTTON MARKET (image for illustrative Project Only)
SITABURDI TTMC
Maha Metro is planning to initiate tenders to develop retail space of 7 Lakhs Sq. Ft.
As per the approved DPR of NMRP it is expected that 35% of the Revenue to be accrued for Nagpur Metro Rail project shall be from Non Fare Box Revenue.
The Year wise Revenue projections for Non fare Box Revenue as per DPR are as follows –
NAGPUR METRO RAIL PROJECT HIGHLIGHTS
Year
Revenue from 1% Additional Surcharge on
Stamp Duty Revenue from TOD/FSI
Revenue From Property Development and
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Expected Non Fare Box Revenue
(INR In Crores) (INR In Crores) (INR In Crores) (INR In Crores)2018-2020 179 1792020-2025 629 2785 176 35902025-2030 1014 4167 269 54502030-2035 1631 3722 423 57762035-2040 2629 0 653 32822040-2045 4233 0 1043 5276
Total 10314 10674 2564 23552
• Till October, 2017, an amount of Rs.60.05 Cr has been collected towards 1% Additional Surcharge on Stamp Duty.
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